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Paris club deal means 'foreign investment, trade, jobs'

Cabinet Chief Jorge Capitanich addresses media at the government house.

In a big day for Kirchnerites celebrating the deal signed with the Paris Club, Cabinet Chief Jorge Capitanich assured the debt restructuring accord has been set “responsibly.” “Argentina comits if but only if the development of its payment capacity allows so,” Jorge Capitanich said.

The head of ministers granted an interview to a TV news show today to analyze the Paris Club agreement that involves the payment of 9.7 billion dollars with a first paymnet of 500 million dollars to be cleared in July this year, plus a reduction of interest rates to 3 percent.

“There is the perspective of an increase in direct foreign investment by the members of the Club, more financing for foreign trade and there is no reason to not think about the expansion of jobs,” Capitanich assured.

BRICS 'plus' Argentina

Capitanich was also queried about this week’s meeting between Foreign Minister Héctor Timerman and his Russian counterpart Sergi Levrov that resulted in the announcement that Argentina has been officially invited to attend the meeting of BRICS countries to be held in June in the Brazilian City of Fortaleza.

The BRICS group of countries, the cabinet chief considered, “accounts for 25 percenty of the world’s GDP, 40 percent of the global population" and represents " "strategic resources and solid perspectives of growth.”

According to Capitanich, who highlighted current ties and cooperation between Buenos Aires and Moscow, attending the Fortaleza summit portrays the opportunity to “think about countries that have perspective of growth plus Argentina.”

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Tags:  Jorge Capitanich  cabinet chief  Paris Club  BRICS  debt  Russia  





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